KARACHI: Gold prices continued an upward trend on Friday to hit a fresh all-time high in the country on an increase in prices in the international market while instability of the rupee also contributed in pushing the prices of precious metal up significantly.
According to All Sindh Saraf Jewellers Association data, gold rates in the local market increased by Rs700 to Rs167,100 per tola. Similarly, 10-gram gold price increased by Rs600 to Rs143,261.
In the international market, gold rates increased by $16 to $1,800 per ounce.
Silver rates increased by Rs30 to Rs1,890 per tola. The price of 10-gram silver also rose by Rs25.72 to Rs1,620.37.
According to an analyst, commodities had starting moving towards commodities considering them as “safe havens” and moving their liquid assets escaping an unstable market of the Pak rupee. Besides, the market also got affected by an uptrend in the international market, he stated.
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